Summary
GE HealthCare Technologies Inc. (GEHC) has filed an 8-K to disclose a change in its reportable business segments, effective July 1, 2024. The Image Guided Therapies (IGT) business, previously part of the Imaging segment, has been realigned to the Ultrasound segment, which has been renamed Advanced Visualization Solutions (AVS). This change aims to better align IGT with its clinical applications and enhance business and customer impact by providing integrated image guidance. The recast financial information for this new segment structure for fiscal years 2023 and 2022, and the first two interim periods of 2024, is provided to aid investor comparability.
Key Highlights
- 1GE HealthCare realigns business segments, moving Image Guided Therapies (IGT) into the newly named Advanced Visualization Solutions (AVS) segment (formerly Ultrasound).
- 2The change, effective July 1, 2024, is intended to improve clinical alignment and customer impact by integrating procedural guidance with ultrasound solutions.
- 3The AVS segment will now encompass Specialized Ultrasound (Radiology, Primary Care, Point of Care, Women’s Health) and Procedural Guidance (CardioVascular, Interventional Solutions, Surgical Innovations).
- 4The company continues to report four distinct segments: Imaging, AVS, Patient Care Solutions (PCS), and Pharmaceutical Diagnostics (PDx).
- 5Recast historical financial information reflecting the new segment structure for fiscal years 2023 and 2022, and the first two interim periods of 2024, has been provided.
- 6This realignment does not impact previously reported consolidated or combined financial statements and is intended solely to enhance comparability.
Frequently Asked Questions
The primary reason for the realignment is to better align the Image Guided Therapies (IGT) business with its clinical usage and to realize stronger business and customer impact by integrating it with ultrasound solutions in the newly named Advanced Visualization Solutions (AVS) segment.
GE HealthCare will continue to report four reportable segments: Imaging, Advanced Visualization Solutions (AVS), Patient Care Solutions (PCS), and Pharmaceutical Diagnostics (PDx). The change primarily reclassifies IGT within the AVS segment.
No, the recast financial information is supplemental and provided to aid in comparability. It has no impact on previously reported consolidated or combined financial statements for any period.
The AVS segment includes Specialized Ultrasound (covering Radiology, Primary Care, Point of Care, and Women's Health) and Procedural Guidance (covering CardioVascular and Interventional Solutions, and Surgical Innovations, which now includes IGT).